Published on: March 15th, 2022 • Duration: 45 minutes
What if everything you think you know about money creation is wrong? In a fascinating conversation with Real Vision’s Alfonso Peccatiello, contrarian economist Steve Keen takes apart some of the most deeply held ideas of neoclassical economists, whom he compares to geocentric astronomers. Misconceptions about money creation, Professor Keen says, have led to unfounded fears of government deficits, which, properly understood, can be used to stimulate and fund innovation. Keen also explores the differences between public and private debt, the effects of fluctuating energy supply on the world economy, and the potential impact of China’s credit bubble. Recorded March 10, 2022.